Perhaps the work most closely related to ours is [1]} in which the framework of optimal predictors and prescriptors which we employ was first introduced. [2]} generalize this framework to allow for data generating processes which may exhibit dependence over time such as Markov chains and auto-regressive models. However, in both works only the exponential regime (\(a_T \sim rT\) ) as defined earlier is considered. Consequently, the resulting optimal formulations are necessarily all conservatively biased. Technically, many of the results in this line of work rely quite heavily on the mathematical machinery of large deviation theory [3]} which has proven very useful also in several related fields such as control [4]}, [5]} and queuing theory [6]}.
